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20121207
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Search Results 0 to 8 of about 9 (some duplicates have been removed)
CBS
Nov 29, 2012 4:00am PST
also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can work on other details such as spending cuts and changes to the tax code, medicare and medicaid. >> he's out there campaigning for his position. i get it. we understand it. at the end of the day he has to lead on this issue. >> reporter: some republican lawmakers have said they are willing to compromise on the tax issue. oklahoma representative tom cole said the gop should sign off on the middle class extension. but house speaker john boehner isn't ready to budge yet. >> it will hurt small businesses, hurt our economy. it's why this is not the right appr
CBS
Dec 7, 2012 4:00am PST
country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to hire taxes for the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in last month's hiring. this is the morning news. port. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service the holidays are easy. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on wher
CBS
Dec 3, 2012 4:00am PST
of this fiscal cliff is massive, massive defense cuts. that's going to be a topic here in washington today, terrell, when several ceos of the defense industry talk about the impact on their industry. >> susan mcginnis in washington this morning. thank you. kansas city authorities are still trying to piece together what prompted kansas city chiefs linebacker jovan belcher to murder his girlfriend and then kill himself. saturday's murder/suicide stunned the team, fans and nfl. but the chiefs played their best game the year beating the panthers 27-21. manuel bojorquez reports. >> reporter: amid the typical game day festivities reminders of a team tragedy. the coach greeted fans with a heart felt gesture just one day after watching linebacker jovan belcher take his life. >> it's tough when circumstance happen you can't undo them. so you have to rely on each other, rely on your family and friends and rely on your faith. >> it's going to affect the perkins family, the belcher family, his daughter for many years to come. not just today or in the next few weeks. >> reporter: authorities say belche
CBS
Dec 6, 2012 4:30am EST
to go over the fiscal cliff. >>> lighting up legally. this morning a law permitting recreational marijuana use goes into effect in washington state. >>> and royal ruse. australia's shop jocks pose as queen elizabeth and prince charles in a prank phone call to the duchess of cambridge's hospital. >> when can you take me to the hospital, charles? >> when can you come down to take her? maybe in the morning or something, if that's okay. captioning funded by cbs >> this is the "cbs morning news" for thursday, december 6, 2012. >>> good morning, everybody. i'm terrell brown. stunning. that's what they hear after the obama administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. a
CBS
Dec 5, 2012 4:00am PST
goes over the fiscal cliff. the two sides appear close to an agreement on little things. it could lead to higher airline ticket prices and no more mail delivery on saturday. >> oh, boy. susan mcginnis in washington this morning. susan, thank you so much. one of the tax breaks due to expire next month is the payroll tax. that's the tax listed on your pay stub as fica. the money you pay into social security and medicare. it was reduced by two percentage points during the recession. jim axelrod has more. >> reporter: the payroll tax cut has given this family an extra $70 a month to spend. john is a maintenance man in jersey city, new jersey. >> are you paying any attention to what's going on in washington right now? >> of course. >> reporter: their $50,000 a year income put them almost exactly in the middle of the american household. if it's not extended those $1,035 more. >> do you have room to cut back? >> no. >> reporter: if the tax cut expires paycheck contributions will go from 4.2% to 6.2%. that's $115 billion a year that would go to deficit reduction instead of being pumped into the economy. heidi sherholtz is an economist. >> it's less money for consumers to spend, that means that the demand for
CBS
Dec 6, 2012 4:00am PST
government spending cuts due to kick in at the end of the year as part of the fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with ourselves. >> the president and boehner spoke on the phone wednesday, but republicans want more. >> we want to sit down with the president. we want to talk specifics. >> whether the talks happen on the phone or in person, here on capitol hill or at the white house, there will be no deal without a compromise on taxes, something that does not appear likely any time soon. >> an obsession to raise taxes is not going to solve the problem. >> treasury secretary timothy geithner said the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boehner t
CBS
Dec 4, 2012 4:00am PST
thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say their plan would cut $2.2 trillion from the federal deficit over ten years. with $600 billion in health care cuts, $300 billion in cuts to mandatory spending and another $300 billion in cuts to other federal spending. the biggest difference between the republican plan and the president's remains taxes and how the government can generate more revenue to pay down the debt. >> rates have to rise on the top 2%. there's no other way to do it. >> reporter: president obama says his plan will raise taxes on the rich, bringing in $1.6 trillion. republicans want to close tax loopholes and eliminate deductions, which they say wi
Search Results 0 to 8 of about 9 (some duplicates have been removed)